KLRF lifts half-year capital spending to Rs 27.99 crore

Kovilpatti Lakshmi Roller Flour Mills Limited spent Rs 27.99 crore on purchases of property, plant and equipment, including changes in capital work-in-progress, in the half year ended September 30, 2026, compared with Rs 96.55 lakh a year earlier. KLRF’s capital work-in-progress reached Rs 29.38 crore and combined borrowings rose to Rs 104.75 crore.

How much did KLRF spend on capital assets?

KLRF spent Rs 27.99 crore on purchases of property, plant and equipment, including changes in capital work-in-progress, during the half year ended September 30, 2026. The comparable outlay was Rs 96.55 lakh in the half year ended September 30, 2025, making the reported investment outflow substantially higher year on year.

The filing describes the cash-flow line as purchases of property, plant and equipment, including changes in capital work-in-progress. Property, plant and equipment, or PPE, refers to physical operating assets, while capital work-in-progress represents expenditure on assets that had not been transferred to completed PPE by the reporting date. KLRF does not identify the individual projects, facilities or asset classes behind the Rs 27.99 crore outlay.

KLRF reported net cash from operating activities of Rs 6.37 crore for the September 2026 half year, compared with net cash used in operating activities of Rs 12.06 crore in the corresponding 2025 period. Its financing cash inflow was Rs 19.51 crore, below Rs 29.96 crore a year earlier, while the investing section reported the larger PPE purchase.

What changed in KLRF’s capital work-in-progress?

KLRF’s capital work-in-progress rose to Rs 29.38 crore at September 30, 2026 from Rs 3.84 crore at March 31, 2026. The Rs 25.54 crore increase indicates that much of the reported half-year investment remained under development rather than appearing as completed PPE at the September reporting date.

Reported PPE was Rs 82.16 crore at September 30, 2026, compared with Rs 83.05 crore at March 31, 2026. The lower completed-PPE balance alongside the higher work-in-progress balance is consistent with ongoing asset construction, although the filing supplies no asset-by-asset bridge between additions, depreciation, disposals and transfers from work-in-progress.

KLRF recorded depreciation and amortisation expense of Rs 30.02 crore in the six months ended September 30, 2026, compared with Rs 30.47 crore in the previous corresponding half year. The company also reported Rs 2.96 crore of proceeds from sale of PPE in the cash-flow statement, but it does not specify which assets were sold or whether the proceeds related to either operating segment.

How much did KLRF’s borrowing increase?

KLRF’s combined non-current and current borrowings increased by Rs 22.15 crore to Rs 104.75 crore at September 30, 2026 from Rs 82.76 crore at March 31, 2026. Non-current borrowings rose by Rs 10.76 crore to Rs 48.20 crore, and current borrowings rose by Rs 12.23 crore to Rs 56.55 crore.

The increase in borrowings occurred in the same six months as the Rs 27.99 crore PPE purchase outflow and Rs 25.54 crore growth in work-in-progress. That timing shows that KLRF expanded both investment activity and debt balances, but the filing does not expressly allocate any particular borrowing facility to the capital programme.

KLRF’s cash and cash equivalents fell to Rs 11.63 lakh at September 30, 2026 from Rs 19.12 lakh at March 31, 2026. Total assets increased to Rs 224.61 crore from Rs 193.37 crore, while total equity rose to Rs 78.06 crore from Rs 74.56 crore, reflecting the balance-sheet expansion during the six-month period.

Which segment carried the asset expansion?

KLRF’s food division held assets of Rs 164.42 crore at September 30, 2026, up from Rs 135.17 crore at March 31, 2026. Engineering-division assets increased to Rs 58.83 crore from Rs 54.69 crore, meaning the food division accounted for the larger absolute increase in segment assets during the period.

Food-division liabilities were Rs 110.38 crore at September 30, 2026, compared with Rs 80.59 crore at March 31, 2026. Engineering-division liabilities fell to Rs 30.25 crore from Rs 30.71 crore, while corporate liabilities declined to Rs 5.92 crore from Rs 7.50 crore. The segment statement does not allocate the Rs 29.38 crore work-in-progress balance between food and engineering.

Food-division capital employed, defined in the filing as segment assets less segment liabilities, was Rs 54.03 crore at September 30, 2026 versus Rs 54.57 crore at March 31, 2026. Engineering capital employed increased to Rs 28.58 crore from Rs 23.98 crore, indicating that the two segments recorded different movements in assets and liabilities despite the larger increase in food assets.

What do KLRF’s half-year results show?

KLRF reported total income of Rs 208.77 crore for the six months ended September 30, 2026, compared with Rs 204.32 crore in the prior-year half year. Profit before tax after exceptional items was Rs 5.94 crore, against Rs 5.76 crore, and profit after tax was Rs 4.60 crore, compared with Rs 4.39 crore.

The September 2026 half-year profit before tax included Rs 1.67 crore of exceptional income, which the filing identifies as profit on sale of an asset. Before exceptional items and tax, profit was Rs 4.27 crore, up from Rs 2.81 crore in the corresponding 2025 period, separating the underlying reported improvement from the disclosed asset-sale gain.

Food-division revenue decreased to Rs 151.55 crore in the September 2026 half year from Rs 154.11 crore a year earlier. Engineering-division revenue increased to Rs 57.22 crore from Rs 50.21 crore, so engineering provided the increase in KLRF’s total reported revenue while food revenue declined.

KLRF’s finance cost was Rs 3.37 crore for the six months ended September 30, 2026, compared with Rs 3.59 crore a year earlier. The lower half-year finance cost was reported alongside higher September-end borrowings, but the filing does not disclose borrowing rates, repayment schedules or the timing of drawdowns needed to explain that comparison.

Conclusion

KLRF’s September 2026 half-year filing records a markedly higher level of capital deployment, with Rs 27.99 crore of PPE purchases including work-in-progress, compared with Rs 96.55 lakh a year earlier. Work-in-progress rose by Rs 25.54 crore to Rs 29.38 crore, while total borrowings increased by Rs 22.15 crore to Rs 104.75 crore and total assets rose by Rs 31.24 crore.

The next result will show whether KLRF transfers part of the Rs 29.38 crore work-in-progress into completed PPE and how the Rs 104.75 crore borrowing balance changes. The filing provides no project purpose, capacity target or commissioning schedule, leaving the use and completion timing of the investment programme unresolved.